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How tapering can help Social Security’s return on investment
How will the Federal Reserve’s taper plans affect Social Security Trust Funds? First, tapering is shorthand for a gradual end to the massive bond-buying program the Federal Reserve unleashed in early 2020 when the pandemic crashed the economy. The Federal…
Compare Your Benefit to Social Security’s Maximum
Christy Bieber reports that in 2022 Social Security’s maximum monthly benefit will be $4,194. But few earn that amount, as it would entail earning at or above the maximum wages taxed for 35 or more years AND waiting until age…
Social Security Underperforms Other Investments
Brett Arends of MarketWatch reports the Social Security Trust fund earned only 2.5% on each dollar invested last year, compared with a stellar year in financial markets where the S&P 500 index rocketed 29%, international stocks 11%, real estate trusts…
Raiding Retirement Savings is a Costly Mistake
Christy Bieber explains the importance of retirement savings, including 401k plans, as a necessary supplement to Social Security, which only replaces 40% of pre-retirement income. A recent study from the TransAmerica Center for Retirement Studies noted over 1/3 of workers have…
1 in 5 Americans Are in for a Shocking Social Security Surprise
There is a very harsh reality about Social Security benefits that 20% or more of future retirees just don’t comprehend. In short, payments are more meager than people realize, replacing a scant 40% of pre-retirement income. Many Americans are overestimating the…
Don’t Necessarily Claim Social Security As Soon As You Retire
When to retire and when to start Social Security benefits are two of the most important life decisions one can make. Maurie Backman notes they need not be made simultaneously, however. Backman notes you can begin Social Security monthly benefits…
Be Careful Not to Forfeit Some Social Security if You Work
Christy Bieber reports 57% of current workers intend to work either full time or part time after they’ve officially retired. That’s according to a recent study from the TransAmerica Center for Retirement Studies. As a result, they’re potentially at risk of…
Claim Social Security at Age 70 to Help Manage These 3 Retirement Expenses
Maurie Backman explains how you boost your benefits by 24% – 32% over the benefit you are due to collect your full retirement. Wait until age 70. Waiting guarantees a substantial and permanent increase in benefits for life. It’s the…
Turning 65? You’re eligible to claim Medicare & Social Security. But should you?
This piece in USA Today penned by Christy Bieber notes that it pays to enroll in Medicare on time, because if you don’t, you could end up paying costly penalties that make your Part B premiums more expensive. But, if…
73% of Americans Are Buying Into a Dangerous Social Security Myth
While it is a near universal program, Social Security continues to be misunderstood by most. Christy Bieber notes that those who believe the myth covered here are poised to make a bad decision based on false pretenses. According to a…